Two Covington Renovation Projects Awarded Facade Forgivable Loans
Two buildings in Covington undergoing renovations were awarded facade grants from the City of Covington.
1928 Madison Avenue has already seen $74,550 invested into renovating the upstairs apartments. The commercial space on the first floor is being "white-boxed" to attract a business tenant.
The city awarded a $4,200 forgivable loan to cover half the cost of painting the exterior.
ZW Properties is behind the project. The company was awarded extra points in the loan application for being minority-owned.
1131 Holman Street is the site of a $176,000 interior renovation by the Center for Great Neighborhoods. An upstairs apartment and a first-floor coffee shop are int he works.
The city awarded a $6,000 forgivable loan to assist in the $19,350 plans to paint, repair windows and cornices, and add lighting and a commercial storefront.
"Supporting small businesses is more important than ever. While these two facade grants may seem small, they continue to improve Covington block-by-block and will help us attract new businesses to our neighborhoods," said Ross Patten, assistant economic development director at the City.
The Commission set aside $150,000 for the program in the current budget cycle, or roughly $37,500 a quarter, but the COVID-19 pandemic has slowed applications, Patten said.
Top photo: The building at 1928 Madison Ave. (provided)